The naira on Wednesday depreciated against the dollar as it exchanged at N756.21 at the Investors and Exporters window.

The naira lost 1.48 per cent compared to the N745.19 it exchanged for the dollar on Tuesday.

The open indicative rate closed at N766.82 to the dollar on Wednesday.

A spot exchange rate of N799.90 to the dollar was the highest rate recorded within the day’s trading before it settled at N756.21.

The naira sold for as low as N701 to the dollar within the day’s trading.

A total of US$95.70 million was traded at the investors and exporters window on Wednesday.